it starts with you. >>> welcome back to the kudlow report. making the case for the president is new jersey cagman and gentleman let's talk about overspending. that is a historic high. debt is 100% of gdp. governor gilmore aka governor romney. what would you do to stop this borrowing binge. deficit larry mean that is you are spending more than you are taking in. there are two things that you can do. you have to look at the spending to determine what you have to hold on. you have to set a priority to control spending. in the second thing you must have a program to increase growth in this country and new revenue. that makes a lot of the decisions about spending easier. you get more money coming in. >> president, you have been accused by your critics of failing to deal with entitlement spending reform and basically trying to raise taxes as the only means of deficit spending. are those charges fair? >> absolutely not. we had a deal going. myself and mr. baynor until mr. can toter stepped in. what i could support is that we would have tax cuts and